Why Do Different Names Exist Related to the Central Notion

question 49

Essay

Why do different names exist related to the central notion of competence, such as capability, distinctive competence, core competence, dynamic capability, etc?

---

Definitions:

FIFO Costing

First-In, First-Out, an inventory valuation method that assumes that the first items placed in inventory are the first sold.

Cost of Goods Sold

The total direct costs attributable to the production of goods sold by a company, including materials and labor expenses.

Ending Inventory

The total value of goods available for sale at the end of an accounting period after accounting for purchases and sales.